The movie and game rental chain already planned to close around 160 outlets pre-administration, but went bust before the cost-cutting measures could be implemented.

"Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the company to a profitable core which is capable of being sold," said joint administrator Lee Manning.

"We would like to thank the company's employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support."